Rental Properties

3 Months Ended

Mar. 31, 2019

Real Estate [Abstract]

Rental Properties

Rental Properties

The following table summarizes the carrying amounts of rental properties as of March 31, 2019 and December 31, 2018 (in thousands):

	March 31, 2019			December 31, 2018
Buildings and improvements	$	4,667,681		$	4,593,159
Furniture, fixtures & equipment	99,613			97,463
Land	1,199,372			1,190,568
Leasehold interests	26,041			26,041
	5,992,707			5,907,231
Accumulated depreciation	(920,409		)	(883,174		)
Total	$	5,072,298		$	5,024,057

Depreciation expense on rental properties was $38.3 million and $36.5 million for the three months ended March 31, 2019 and 2018, respectively.